petty cash book
What is a petty cash book used for?
Recording small cash expenses
Which of the following best describes petty cash?
A small amount of cash for minor expenses
Who is typically responsible for maintaining the petty cash book?
Petty cashier
How is petty cash typically replenished?
By issuing a check from the main cash account
What is the purpose of a petty cash voucher?
To document the details of petty cash transactions
Which of the following is an example of an expense recorded in the petty cash book?
Buying office stationery
What is the usual format of a petty cash book?
Columns for date, description, amount, and balance
Which type of system is commonly used for petty cash?
Imprest system
What should be done when the petty cash fund runs low?
Replenish the fund to the original amount
What is the advantage of maintaining a petty cash book?
It helps track small transactions efficiently